Euromoney's Liquid Real Estate Magazine Names ProLogis Best Developer in Asia and China
LONDON, Sept. 24 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that it has been named "Best Industrial/Warehouse Developer in Asia" as well as "Best Industrial/Warehouse Developer in China" by Euromoney's Liquid Real Estate magazine, a leading publication focused on international real estate financial markets, for the second year in a row.
The company received the designations as part of the Euromoney Liquid Real Estate awards, which are given on an annual basis to developers, lenders, advisory firms, investment banks, investment managers and property management firms across a variety of regional categories. Winners were nominated via a poll of 850 professionals in the real estate and finance industries.
"These awards are a testament to the talent and hard work of our entire Asia organization, which continues to build a leadership position for ProLogis in key distribution markets across the continent," said Jeffrey H. Schwartz, ProLogis chairman and chief executive officer. "We're extremely gratified to receive these recognitions, especially since they are based on the judgment of peers and other professionals involved in global real estate."
ProLogis is one of the largest providers of distribution space in Asia with 69.4 million square feet (6.4 million square meters) owned, managed or under development. The company's major customers throughout Asia include adidas, Best Buy, DHL, FedEx, L'Oreal, Menlo Worldwide, Nikon, Nippon Express, Nokia, Seiyu/Wal-Mart, Samsung, Sanyo Electric Logistics, UPS and Yum! Brands.
The company entered China in 2004 and today has 30.3 million square feet (2.8 million square meters) of distribution space in the country's key coastal and inland markets. Ming Mei, chief executive officer of ProLogis China and Asian emerging markets, said the Chinese market continues to offer enormous opportunity for providers of high-quality industrial facilities.
"The economic climate in China is strong and is fueling the demand for modern warehouses in the right locations throughout the country," Mei said. "We are focused on building a portfolio that will enable our customers to increase the efficiency of their distribution networks, and on lowering the overall cost of logistics nationwide. We're extremely pleased to receive this honor from Euromoney, and expect that continued growth will build upon our success in both the Chinese market and throughout Asia."
ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.
Released September 24, 2008